Marcus & Millichap Has Boerum Hill Multifamily on Market

February 1, 2012 Brooklyn Eagle Staff

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Compiled by Linda Collins

Brooklyn Daily Eagle

BOERUM HILL — Marcus & Millichap Real Estate Investment Services reports that a 5,500-square-foot, eight-unit residential property two blocks from Barclays Arena and Atlantic Yards in Downtown Brooklyn, is on the market.

The property, at 452 Atlantic Ave., between Bond and Nevins streets, is priced at $1.7 million, according to John Horowitz, regional manager of the firm’s Brooklyn office.

Matt Rosenzweig, a Marcus & Millichap associate, is representing the seller, a private owner.

“The seller has maintained the property meticulously,” Rosenzweig said.

“Nearly 3,000 units of newly constructed apartment units have been absorbed into this market in the past year at historically high rents,” he said. “With unmet demand for quality residential rental units, this property has attracted the attention of multifamily investors thirsty for opportunities in a neighborhood now known to many as DoBro.”

The location is desirable as a residential address and is only a four-minute walk from the 10 subway lines at the Atlantic Terminal, according to Rosenzweig.

“Atlantic Avenue is benefiting enormously from public-private investments which bookend this commercial strip,” he added.

“On one side, the signature Barclays Arena in the Atlantic Yards will open for business in 2012. On the other side, Brooklyn Bridge Park began operations in 2010 and since has generated significant excitement.”